June 12, 2024
How many of the below given pair(s) are correctly matched?
1. List 1 - Progressive tax = List 1 - Tax as a % of income decreases as income increases.
2 List 1 Regressive tax = List 2 - Tax as a % of income increases as income increases
3. List 1 - Proportional tax = List 2 - Tax as a % of income remains constant as income increases
  • (A) 1 pair only
  • (B) 2 pairs only
  • (C) All the pairs
  • (D) None of the pairs
“The General Theory of Employment, Interest and Money” was written by?
  • (A) Adam Smith
  • (B) John Maynard Keynes
  • (C) Amartya Sen
  • (D) None of the above
Consider the following statements regarding macroeconomics and microeconomics:
1. Maximisation of social welfare is the focus of macroeconomics.
2. Microeconomics is concerned with determination of output and price for an individual firm or industry.
Select the correct statement(s) using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) None of the above
Which of the following statement(s) is/are correct?
  • (A) Consumer goods are those goods, which satisfy the want of consumers directly.
  • (B) Public goods are non-rivalrous and non-excludable.
  • (C) Capital goods don’t transform in the production process.
  • (D) All of the above
Which of the following statement is incorrect?
  • (A) Addition to the stock of capital which also includes replacement for the wear and tear is called gross investment.
  • (B) Addition to capital stock does not include the replacement for the depletion of capital stock is called net investment.
  • (C) GDP is the sum total of gross value added of all the firms in the economy
  • (D) None of the above
Consider the following statements regarding Gross National Product (GNP):
1. It can be obtained by adding the net factor income from abroad to the gross domestic product.
2. The GNP of a country cannot be lower than its GDP.
Select the correct statement(s):
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
Which statement(s) is/are correct regarding the term ‘externality’ used in economy?
1. An externality is an economic term referring to a cost or benefit incurred or received by a third party.
2. An externality can be negative but not positive.
Select the answer using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
Which of the following statement is incorrect?
  • (A) The persons engaged in quinary activities are referred to as gold collar professionals.
  • (B) People engaged in primary activities are called blue-collar workers.
  • (C) The natural economic movement of a country goes from agrarian to an industrial economy to a service economy but India jumped from an agrarian to a service economy.
  • (D) None of the above
Which of the following are the important indicators of the Physical Quality of Life Index (PQLI)?
1. Life expectancy
2. Infant mortality
3. Basic literacy rate
4. Maternal mortality
Select the answer using the codes below:
  • (A) 1, 2 and 3 only
  • (B) 2, 3 and 4 only
  • (C) 1, 3 and 4 only
  • (D) 2 and 3 only
August 2022 data showed that India’s exports shrank once again, while inelastic imports of petroleum and coal continued to climb. With this, India has been clocking imports above the $60 billion mark for how many successive months?
  • (A) Two months
  • (B) Three months
  • (C) Six months
  • (D) Nine months

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